50 Fastest Growing Tech Companies - Deloitte Report

Deloitte released their Fast 50 report for the booming IT industry. Key note from the report:

"Our analysis of the 2011 Technology Fast 50 shows the following highlights:

• The total revenue of the index is approximately $2.2 billion, up from $1.8 billion in 2010
• Half of the top 50 companies are based in NSW, with a further 19 based in Victoria
• Privately held companies dominate the index, with 44 being privately owned and six companies being listed companies, two of which appear in our top 10
• Internet companies lead the charge, with 23 companies being involved in the Internet industry –
• the highest ever total
• Twelve companies are involved in the communications/networking industry
• Software companies follow suit, comprising 11 of the winners, down from 15 companies in the prior year
• 25 of the companies have appeared in the winners’ list in previous years
• Average three-year revenue growth rate for this year’s winners is 209%, down from 425% in 2010."

Here's a link to the full Fast 50 Report from Deloitte.

For me there are two notable companies who have appeared on the report for a few years that don't get as much press attention as they should - M2 Communications and Atlassian Corporation. Two companies with exceptional growth that are real physical companies not based entirely online. Also noteworthy is Anittel who is on the list for its second year with amazing growth of over 1000%! They are the clear winner this year on the Deloitte report and just showcase how much there is to go after in the market.

It's interesting to me that there are a lot of online businesses like iSelect and RedBalloon that are mentioned and seem to be part of a massively growing industry. Meanwhile Software company TigerSpike are the highest ranked software company at #11. Considering the likes of HP and IBM have moved to expand on their software businesses I'm surprised there aren't more Australian Software vendors on there.

In fact the Software lead seems to be coming from foreign companies specialising in BPO and BPaaS. It suggests to me that there is definitely a skills shortage in Australia in terms of strong software development talent and that this is something IT sales people can definitely take advantage of.